The board of directors shall each receive compensation at the rate of two and one-half dollars ($2.50) per day while attending meetings, and their actual and necessary expenses while engaged in official business. The salary of the secretary shall not exceed eight hundred dollars ($800) per annum. No director or any officer named in this act [73-12-1 to 73-12-57 NMSA 1978] shall, in any manner, be interested, directly or indirectly, in any contract awarded or to be awarded by the board, or in the profits to be derived therefrom; nor shall such director or officer receive any bonus, gratuity or bribe; and for any violation of this provision any such director or officer shall be deemed guilty of a felony, and upon conviction thereof shall forfeit his office, and be punished by a fine not exceeding five hundred dollars ($500) or by imprisonment in the penitentiary not exceeding five years nor less than one year.
History: Laws 1929, ch. 76, § 27; C.S. 1929, § 73-727; 1941 Comp., § 77-2427; 1953 Comp., § 75-25-27.